Rice Hall James & Associates LLC decreased its stake in shares of Johnson Outdoors Inc. (NASDAQ:JOUT) by 8.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 24,543 shares of the company’s stock after selling 2,177 shares during the period. Rice Hall James & Associates LLC’s holdings in Johnson Outdoors were worth $1,830,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Royce & Associates LP increased its holdings in shares of Johnson Outdoors by 63.6% during the 1st quarter. Royce & Associates LP now owns 231,722 shares of the company’s stock valued at $16,536,000 after acquiring an additional 90,053 shares during the last quarter. THB Asset Management grew its holdings in Johnson Outdoors by 48.4% in the 1st quarter. THB Asset Management now owns 221,935 shares of the company’s stock valued at $15,837,000 after buying an additional 72,423 shares during the last quarter. Geode Capital Management LLC grew its holdings in Johnson Outdoors by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 117,476 shares of the company’s stock valued at $6,900,000 after buying an additional 3,030 shares during the last quarter. Tredje AP fonden grew its holdings in Johnson Outdoors by 1.3% in the 1st quarter. Tredje AP fonden now owns 82,977 shares of the company’s stock valued at $3,087,000 after buying an additional 1,027 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Johnson Outdoors by 81.4% in the 4th quarter. Millennium Management LLC now owns 54,190 shares of the company’s stock valued at $3,183,000 after buying an additional 24,316 shares during the last quarter. 62.93% of the stock is currently owned by institutional investors and hedge funds.
JOUT traded up $0.35 during midday trading on Friday, reaching $58.07. The company’s stock had a trading volume of 1,811 shares, compared to its average volume of 57,020. The stock has a market cap of $602.84 million, a P/E ratio of 12.39 and a beta of 0.93. The company has a fifty day simple moving average of $68.91 and a 200 day simple moving average of $71.69. Johnson Outdoors Inc. has a twelve month low of $54.66 and a twelve month high of $107.36.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were given a $0.14 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.96%. Johnson Outdoors’s dividend payout ratio is currently 11.94%.
In other Johnson Outdoors news, CFO David W. Johnson sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $60.39, for a total value of $60,390.00. Following the completion of the sale, the chief financial officer now owns 13,958 shares in the company, valued at approximately $842,923.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.60% of the stock is currently owned by company insiders.
A number of research firms have issued reports on JOUT. BidaskClub lowered Johnson Outdoors from a “sell” rating to a “strong sell” rating in a report on Friday, July 12th. ValuEngine lowered Johnson Outdoors from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Imperial Capital lowered their target price on Johnson Outdoors from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. They noted that the move was a valuation call. Sidoti lowered Johnson Outdoors from a “buy” rating to a “neutral” rating and lowered their target price for the company from $102.00 to $80.00 in a report on Monday, July 15th. Finally, Zacks Investment Research lowered Johnson Outdoors from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $79.00.
Johnson Outdoors Company Profile
Johnson Outdoors Inc designs, manufactures, and markets camping, diving, watercraft, and marine electronics products worldwide. The company's Fishing segment offers electric motors for trolling or primary propulsion, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.
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